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Key Notes
- Bitcoin mining difficulty surged 9% in July while MARA's energized hashrate improved 3% to 58.9 EH/s despite lower output.
- MARA maintains 50,639 BTC treasury position, ranking as second-largest publicly traded Bitcoin holder globally.
- Stock trades at $15.90 with 7% annual decline, underperforming broader markets amid mining profitability concerns.
MARA Holdings, Inc. (NASDAQ: MARA) reported a modest decrease in Bitcoin production for July 2025, underscoring ongoing operational headwinds tied to network difficulty and seasonal mining curtailment. The company produced 703 bitcoins in July, marking a 1% decline from June’s output of 713 BTC. The number of blocks won fell by 2% month-over-month to 207, with average daily Bitcoin production also down to 22.7 from 23.8 in June.
According to management, the reduction in production stemmed mainly from a 9% increase in mining difficulty and global hashrate recovery following earlier seasonal reductions. In February 2025, the company reported a 12% drop in Bitcoin production, citing increased network difficulty and occasional slowdowns.
“In July, our production saw a 2% month-over-month decrease in blocks won as global hashrate rebounded,” said chairman and CEO Fred Thiel.
Despite the dip in output, MARA’s energized hashrate increased 3% compared to the previous month, reaching 58.9 exahashes per second (EH/s). The company also highlighted progress at its Texas wind farm data center, expected to commence energization in the second half of the year.
MARA closed July with total Bitcoin holdings of 50,639 BTC, solidifying its position as the second-largest publicly traded Bitcoin treasury globally. Its executives emphasized a shift toward treating Bitcoin as a “productive, risk-managed asset,” with strategies in place to support both domestic growth and international expansion.
How is The Market Reacting to This Update From MARA?
As of August 4, MARA shares traded at $15.90, up approximately 2.6% on the day and reflecting a weekly decline of nearly 7.34%, according to Yahoo Finance. Over the past 12 months, the stock has lost about 7% of its value, significantly underperforming both the S&P 500 and the broader crypto sector. The current 52-week range for MARA shares is $9.81 to $30.28. The company’s market cap stands at $5.89 billion.
Recent trading in MARA stock appears to mirror investor concerns about mining profitability amid the increasing mining difficulty. It looks like the company foresaw this situation, because since the end of 2024, it began building its Bitcoin treasury and in July 2025, it made a capital raise of $950 million to buy more Bitcoin.
MARA’s operational update comes as the Bitcoin network’s hashrate hit record levels in July, tightening margins for miners across the sector. Despite the near-term production slip, management points to ongoing investments and efficiency improvements as key levers to navigate future volatility in Bitcoin mining economics.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
José Rafael Peña Gholam is a cryptocurrency journalist and editor with 9 years of experience in the industry. He wrote at top outlets like CriptoNoticias, BeInCrypto, and CoinDesk. Specializing in Bitcoin, blockchain, and Web3, he creates news, analysis, and educational content for global audiences in both Spanish and English.
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